Question 51 (3 points) In the budget cycle the only executive branch agency involved in all phases of the cycle is CBO GAO Treasury OMB Question 52 (3 points) The taxation principle of "sufficient" means a tax Must cover a broad enough tax base so as not to be a burden on any one group Must generate adequate revenues to pay for the required public purpose Must generate an adequate tax burden to ensure an equalization of social classes Must achieve the point of marginal utility on the Laffer curve